Halliburton Profit More Than Triples Despite Flat Sales

Date : 04/22/2019 @ 12:36PM
Source : Dow Jones News
Stock : Halliburton Company (HAL)
Quote : 21.75  0.07 (0.32%) @ 12:59AM

Halliburton Profit More Than Triples Despite Flat Sales

Halliburton (NYSE:HAL)
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3 Months : From Apr 2019 to Jul 2019

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By Kimberly Chin

 

Halliburton Co. (HAL) said profit more than tripled in the first quarter as the oilfield services company recorded lower impairment charges and had a smaller provision for taxes in this quarter compared with a year earlier.

Net income was $152 million, or 17 cents a share, compared with $46 million, or five cents a share. Analysts polled by Refinitiv expected per-share earnings of 24 cents.

The company said that excluding impairments and other charges, adjusted earnings were 23 cents a share, one cent ahead of analysts' estimates of 22 cents a share.

Sales were flat at $5.74 billion compared with the year-earlier period, but more than the $5.53 billion analysts predicted.

 

Write to Kimberly Chin at kimberly.chin@wsj.com

 

(END) Dow Jones Newswires

April 22, 2019 07:21 ET (11:21 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.

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